Consumer confidence in Germany hit a 16-year high in August

Xinhua News Agency report of July 27 from Berlin (by staff reporters Qiao Jihong and Zhu Sheng) - According to the monthly report released by German market research agency JFK on the 27th, Germany's consumer confidence index for August is expected to be 10.8 points, an increase of 0.2 points over the previous month, exceeding market expectations and the highest value in nearly 16 years.

The report shows that among the three indicators reflecting the German consumer confidence index, the economic outlook index rose for the fifth month in a row to 44.6 points, the highest level in three years; the revenue expectations index rose to 60.9 points, the highest value since the reunification of the two Germans; and the consumption and purchasing propensity indicators declined slightly to 54.8 points.

JFK analyst Rolf Birkler said that although German consumer confidence continues to rise, the future is still at risk. The recent launch of Britain's “Brexit” negotiations, uncertainty in US foreign trade policies, and worsening relations between Germany and Turkey may all lead to a decline in German consumer confidence.

Since 1980, JFK has conducted a monthly confidence index questionnaire survey of about 2,000 German consumers. This index is a leading indicator for predicting next month's economic trends and consumer consumption trends.